What is competitive pricing? A) Price is determined in relation to ri

QUESTION

What is competitive pricing?

A) Price is determined in relation to rivals, factoring in other considerations such as market dominance, number of competitors, and customer loyalty.
B) A company sets a high price to make a large profit; this can work when there is little competition.
C) A company sets a low price to attract many customers and deter competition.
D) This is the strategy of continuously setting prices lower than those of competitors and then not doing any other price-cutting tactics such as special sales, rebates, and cents-off coupons.
E) This is the technique of pricing products or services in odd rather than even amounts to make products seem less expensive.

ANSWER

Answer: A
Explanation: A) In competitive pricing, price is determined in relation to rivals, factoring in other considerations such as market dominance, number of competitors, and customer loyalty.